Formula: Coaching + Training = Profits. What does this formula mean? Well, to break it down, it means: coaching experience plus continual training will put you into a higher tax bracket. Admittedly, many coaches start out making almost abysmal pay. Starting salaries for coaches can be low and if you are starting your own coaching practice, it takes months or years to build up a solid client base that will generate a very good income. But, if you remember the formula, coaching + training = profits, you will keep your eye on the prize and work through the lean times.
There are many coaching systems, programs, courses, and schools which will help you train to become a coach. Some of them offer plenty of hype – TRAIN TO BE A COACH AND MAKE BIG MONEY. The first question to ask yourself when thinking of becoming a coach is, “why do I want to become a coach?” The usual answer is, “because I want to help people.” The next part of that answer is, “because I want to make big money.” Money does matter, specially after reading all the hype that programs use to advertise their courses and certifications. But, is it possible to make the kind of money behind the hype?
Remember – Coaching + Training = Profits
Many coaches start out and quickly get discouraged. “Where is the big money I was promised?” “Why are clients so hard to find and money so hard to make?” What they didn’t realize is that coaching is a long-term commitment and that the financial rewards take time. It takes time in most professions to start making serious money – attorneys, accountants, even doctors often have to work long hours and put in a great deal of time before they are generously compensated. The difference is – they don’t have hype begging them to join the profession and the long-term rewards are already established in our culture. Coaching is a relatively new profession and the Internet is filled with hyped-up ads on getting into the coaching business.
When starting out in the coaching profession, it is important to remember the first reason you became a coach – to help others. Even if you have only one client, you will be helping someone and experiencing the joy of sharing your wisdom and knowledge to help that one person achieve goals and dreams. This purpose, this altruistic mission will carry you through those lean years. Keep coaching and keep training and that formula will prove true – coaching + training = profits. In fact, the formula could actually be – coaching x training = profits as the financial rewards are eventually multiplied with extensive and varied training, but since I fell asleep in math class, the easiest formula to remember is coaching + training = profits. Better yet – coaching PLUS as much training as possible = all the money that the hype promised you. Treat coaching like any other profession and keep in mind that it takes plenty of hard work, dedication, and patience to reap the financial rewards. There is a pot at the end of the rainbow, it just takes a little work to get there!
Writing Team, Coaches Training Blog Community